Macroeconomic assumptions, Philippine Budget 2012

The budget hearing for 2012 budget started in Congress today. We were not there to listen to the presentations by the heads of the Bangko Sentral ng Pilipinas (BSP), Department of Finance (DOF), National Economic Development Authority (NEDA) and Department of Budget and Management (DBM). But we checked the DBM website and saw that the Budget of Expenditures and Sources of Financing (BESF) 2012 is already uploaded.

Here are the macroeconomic assumptions for the 2012 budget. We did not include some lines or items in the original table here, like growth rate of exports and imports, month of exports cover for the GIR, etc. For the projected nominal GDP in 2011 and 2012, we took the low assumption for simpler presentation.

We shall be following some components of the 2012 Budget, especially in relation to major expenditure programs and revenue sources. Watch for them here.